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Kongsberg Maritime Agrees to Buy Evotec AS

By MarEx 2011-07-06 14:47:00

Adds Offshore Handling Systems to portfolio of innovative marine technology
Kongsberg Maritime AS, a fully owned subsidiary of KONGSBERG has reached an agreement in principle with the major shareholders in Evotec AS in regards to the acquisition of the company.

Evotec AS develops and delivers marine technology handling systems to market segments including seismic, offshore supply and subsea. Within these markets, Evotec AS has developed systems that have established the company as one of the leading suppliers. Evotec AS is located in the Herøy and Ulstein municipal in Norway, with approximately 50 employees.

"For Evotec AS, the acquisition enables us to continue our already established business strategy with focus on both local and international presence,” says Trond Myklebust, Managing Director, Evotec AS. “As part of Kongsberg Maritime, we will continue to focus on being the frontrunner in the development of new and innovative offshore handling systems solutions within our market segments."

KONGSBERG is an international, knowledge-based group that supplies high-technology systems and solutions to customers engaged in the oil and gas industry, the merchant marine industry, and the defence and aerospace industries. In 2010, KONGSBERG had a turnover of NOK 15.5 billion, and the Group had 5681 employees in more than 25 countries.

As part of KONGSBERG, Kongsberg Maritime is a global marine technology company providing innovative and reliable technology solutions for all marine industry sectors including merchant, offshore, subsea and naval. Headquartered in Kongsberg, Norway, the company has manufacturing, sales and service facilities in 16countries. In 2010 the business area had a turnover of NOK 6.3 billion